The United Arab Emirates (UAE) has inked a pact with Indonesia to invest up to $23 billion in infrastructure projects throughout the southeast Asian country, news sources say.
The agreement, which was signed on Sunday, reportedly included nearly a dozen business deals in the ports, renewables, agricultural energy, oil and gas, telecommunications, and research sectors.
The investments will be made through a new Indonesian sovereign wealth fund, which will also involve Japan’s Softbank and U.S. International Development Finance Corporation.
